Section 2(f) "(f) Notwithstanding any other provision of this subchapter, only the following sections apply to an executory contract described by Subsection (a)(2) if the term of the contract is three years or less and the purchaser and seller, or the purchaser's or seller's assignee, agent, or affiliate, have not been parties to an executory contract to purchase the property covered by the executory contract for longer than three years: (1) Sections 5.063-5.065; (2) Section 5.073, except for Section 5.073(a)(2); and (3) Sections 5.083 and 5.085."

Stephen"Without Goliath, David would have never uncovered the giant within him." - Robert Kiyosaki, 'Retire young, Retire Rich'"Whatever you think is real is your reality." - Robert Kiyosaki, 'Retire Young, Retire Rich'"The difference between a goal and a dream is the written word." - Gene Donohue

To be honest, I don't know either, but I've heard from some reputable sources that say the "Enrolled Version" of the bill is the one the Governor signed (and the one I linked to above). The sources also said that a lot of people are erroneously emailing others to say the bill that was signed, does not have the 3-yr clause in it.

I wish someone had something definate in writing. I may email Governor Perry's office to get clarification (or, at least, a link to the now LAW).

Stephen"Without Goliath, David would have never uncovered the giant within him." - Robert Kiyosaki, 'Retire young, Retire Rich'"Whatever you think is real is your reality." - Robert Kiyosaki, 'Retire Young, Retire Rich'"The difference between a goal and a dream is the written word." - Gene Donohue

BTW, if you view the history of the bill, it shows no modification from the point it was enrolled to the point the governor signed it. This tells me that the version signed into law HAS the 3-yr clause in it.

Stephen"Without Goliath, David would have never uncovered the giant within him." - Robert Kiyosaki, 'Retire young, Retire Rich'"Whatever you think is real is your reality." - Robert Kiyosaki, 'Retire Young, Retire Rich'"The difference between a goal and a dream is the written word." - Gene Donohue

It is the enrolled version which will be the law. Certain sections in Chap. 5 of the Property Code will clearly apply to lease option contracts entered into on or after Jan 1, 2006, regardless of their length. Shorter term contracts have fewer provisions, but there is no absolute exclusion as some versions of the bill had. Here is a link to the bill as signed: